'Tale of two cities': The Perth suburbs bucking the downward housing market trend

State government gives first home-buyers a boost

Perth is in a housing slump, but some suburbs are bucking the trend. Credit: File/AAP

New real estate statistics show that Perth is the third worst housing market in the nation, down 8.3 per cent in the past year.

However some suburbs are bucking the trend, with the Real Estate Institute of WA (REIWA) calling Perth "a tale of two cities."

"Recently we've seen 24 per cent of suburbs in Perth see an increase in their median price, and that's great to see," REIWA CEO Damien Collins said.

The top five suburbs to see a median house price increase are Gosnells, Dudley Park, Scarborough, Marangaroo and Canning Vale.

Boost for first-time buyers

The WA government has announced a housing boost for first-time buyers struggling to enter the property market.

More people will be eligible to apply for competitive mortgage loans under the new scheme, which is for a limited time only.

Applicants only have six months to snap up the one-time housing stimulus package, which has come about because the McGowan Government has decided to temporarily relax mortgage lending criteria through the government-owned agency Keystart.

It's hoped the stimulus package will rejuvenate Western Australia's ailing housing market and boost the fortunes of the construction industry.

Who is eligible?

There are only two conditions - they must live in the home and meet income requirements, which have been broadened to include more prospective buyers.

If you're single and make less than $105,000 a year, you are eligible.

The same goes for couples, with the income limit increasing from $115,00 to $130,000.

Families that fall within the threshold of $155,00 a year can also be considered.

Premier Mark McGowan says owning your own home has never been as affordable as it is now.

"This will mean more people will get finance more easily and get into a home," he said.

First home buyers have from July 1 to the end of December to take advantage of the offer.